China's Largest Oil Refiner Open to Third-Party Participation of Up to 30% Share

BEIJING—China's largest oil-refining company plans to open up its domestic marketing and distribution operations to outside investors, in a nod to Beijing's latest efforts to reform state-owned companies and encourage a mixed-ownership economy.

However, China Petroleum & Chemical Corp., known as Sinopec Corp., stopped short of fully opening up its gasoline stations and other distribution operations to third parties by capping the...